3 bed property for sale

Ashwin Close, Market Weighton YO43

Shared ownership purchase from 10% to 75%

A fantastic opportunity to acquire a new build property situated on this modern development of Clifford Park in Market Weighton.
Briefly comprising of entrance hall, cloakroom, living room and dining kitchen to the ground floor. To the first floor are three bedrooms and a family bathroom. Outside there is ample parking space for two vehicles, the rear garden will be laid mainly to lawn with a paved patio adjacent.

Tenure - Leasehold
Council Tax Band - Tbc
EPC - B

The Accommodation Comprises

Entrance Hall

Front door leads into the entrance hall with stairs off to the first floor.

Living Room (5.35m x 3.33m (17'6" x 10'11"))

Spacious room to the front elevation.

Cloakroom (1.65m x 0.88m (5'4" x 2'10"))

Suite comprising of low level Wc, wall mounted hand basin with tiled splashback, vinyl floor and extractor fan. Vinyl flooring.

Dining Kitchen (4.35m x 3.98m (14'3" x 13'0"))

Lovely sized family dining kitchen with recessed cupboard and patio doors into the rear garden. Having a good range of grey wall and floor units with complimentary work surfaces with splashback incorporating a one and a half bowl stainless steel sink unit, integrated electric oven, four ring induction hob with chimney extractor over. Space for washing machine and fridge freezer. Vinyl flooring.

First Floor

Bedroom One (4.31m x 2.64m (14'1" x 8'7"))

Double room to the front elevation.

Bedroom Two (3.70m x 2.11m (12'1" x 6'11"))

Double room to the rear elevation.

Bedroom Three (3.70m x 2.11m (12'1" x 6'11"))

To the rear elevation. Hatch to loft space.

Family Bathroom (2.73m x 1.96m (8'11" x 6'5"))

Suite comprising of low level Wc, pedestal hand basin and panelled bath with shower over. Extractor fan, chrome towel ladder radiator and shaver point. Vinyl flooring and part tiling to the walls.

Outside

Parking for two cars to the front of the property, side access leads to a side gate opening into the rear garden which will be laid to lawn and has a paved patio adjacent to the property.

Additional Information

Services And Appliances

Mains water, electricity and drainage are connected to the property. There is no gas connected to the properties as all have air source heat pumps No appliances have been tested by the agent.

Share Purchase Price And Examples

The share purchase price is calculated using the full market value and the percentage share purchased.
If you buy a 25% share, the share purchase price will be £53,750 and the rent will be £369.53 a month.
If you buy a larger share, you'll pay less rent. The table below shows further examples.
Share Share Purchase Price Monthly rent
10% £21,500£443.44
25% £53,750£369.53
30% £64,500£344.89
40% £86,000£295.63
50% £107,500£246.36
60% £129,000£197.08
70% £150,500£147.81
75% £161,250£123.18
The percentage share and rent amount will change depending on the amount you can afford. You'll receive a worked example after a financial assessment.
Your annual rent is calculated as 2.75% of the remaining share of the full market value owned by the landlord.

Monthly Payment To Landlord

In addition to the rent above, the monthly payment to the landlord includes:
Service charge£0
Estate charge£0
Buildings insurance£9.70
Management fee£0.97
Reserve fund payment£0
Total monthly payment excluding rent£10.67

Reservation Fee

£200
You’ll need to pay a reservation fee to secure your home. When you pay the fee, no one else will be able to reserve the home.
The reservation fee secures the home. If you buy the home, the fee will be taken off the final amount you pay on completion. If you do not buy the home, the fee not refundable.

Eligibility

EligibilityYou can apply to buy the home if both of the following apply:
•your household income is £80,000 or less
•you cannot afford all of the deposit and mortgage payments to buy a home that meets your needs
One of the following must also be true:
•you're a first-time buyer
•you used to own a home but cannot afford to buy one now
•you're forming a new household - for example, after a relationship breakdown
•you're an existing shared owner, and you want to move
•you own a home and want to move but cannot afford to buy a new home for your needs
If you own a home, you must have completed the sale of the home on or before the date you complete your shared ownership purchase.
As part of your application, your finances and credit history will be assessed to ensure that you can afford and sustain the rental and mortgage payments.

Tenure

Leasehold.

Lease Type

Shared Ownership House Lease

Lease Term

Lease term990 years. For more information, see section 2.5, ‘Lease extensions’, in the ‘Key information about shared ownership’ document.

Rent Review

Rent reviewYour rent will be reviewed each year by a set formula using the Retail Price Index (rpi) for the previous 12 months plus 0.5%.

Maximum Share You Can Own

You can buy up to 100% of your home.

Transfer Of Freehold

At 100% ownership, the freehold will transfer to you.

Landlord

East Riding of Yorkshire Council
County Hall
Cross Street
Beverley
HU17 9BA
Under a shared ownership lease, you pay for a percentage share of the market value of a home. You enter into a lease agreement with the landlord and agree to pay rent to the landlord on the remaining share.

Initial Repair Period

Up to £500 a year for the first 10 years to help with essential repairs. For more information, see section 5, 'Maintaining and living in the home', in the 'Key information about shared ownership' document. For more information, see section 5, 'Maintaining and living in the home', in the 'Key information about shared ownership' document.

Landlords Nomination Period

When you give the landlord notice that you intend to sell your share in your home, the landlord has 4 weeks to find a buyer. The landlord may offer to buy back your share, but only in exceptional circumstances and if they have funds available. If they do not find a buyer within 4 weeks, you can sell your share yourself on the open market. For example, through an estate agent.

Pets

You can keep pets at the home.

Subletting

You cannot sublet (rent out) your entire home unless you either:
•own a 100% share; or
•have your landlord's permission which they will only give in exceptional circumstances (see section 1.5 in ‘Key information about shared ownership’ document)and •have your mortgage lender’s permission if you have a mortgage

Application Guidelines

Request & Complete eryc Shared Ownership Application Form.
* An Affordability Assessment will determine your eligibility for shared ownership and the share that you can afford to purchase of a property. Cash Purchasers must still obtain an affordability assessment.
* The companies listed below are independent financial brokers with experience of shared ownership & providing the affordability assessments to the required standard. This assessment is free of charge and there is no obligation to obtain a mortgage via these companies.
*Metro Finance Tel; *The Mortgage People ; The assessment is split into 2 stages; an initial telephone assessment followed by an in-depth assessment for which you will need to provide documents. On receipt of a successful written initial assessment the property will be provisionally allocated to that applicant pending the successful completion of the in-depth assessment. This is in line with the Council’s 1st Come, 1st Served Policy. You can only reserve a property after successfully completing the in-depth affordability assessment and having your application approved by the Council. At this point you can reserve the property and we will request a Reservation Fee of £200, this will be deducted from the sale price on completion of the sale. Providing your application information does not commit you to purchasing a property.
Further information. The companies above will forward details and documents that are part of your affordability assessment to the Council for your application to be reviewed. The Council’s Shared Ownership Policy including the 1st Come, 1st Served appendix & the minimum surplus income appendix can be found on the eryc website: **If you have any queries or wish to know about the shared ownership properties for sale please Email; , Tel;